PEOPLE MOVES: Aberdeen, Canaccord Genuity, Premier Assurance Group
Aberdeen Life, the unit-linked insurance subsidiary of Aberdeen Asset Management, has named former Association of British Insurers’ director general Otto Thoresen to head up its board as chairman, as it fills two board seats being vacated by the retirement of directors Chris Little and Philip Skerrett.
Thoresen, (pictured left,) is well known in the international insurance industry, having not only served as ABI director general for a number of years but also having headed up Aegon Group as its chief executive from 2005 to 2011, and having served as its chief financial officer for five years before that.
He is also known for having served as the independent reviewer of the Treasury Review of Generic Financial Advice – known as the Thoresen Review – which was published in 2008, and which led to the creation of the Money Advice Service. He became chairman of the National Employment Savings Trust Corporation (NEST Corp) two years ago.
Dr Hare is also a familiar figure in insurance circles, having first qualified as an actuary in 1988, and having held various actuarial, marketing and financial risk management roles ever since. In addition to serving as president of the Institute and Faculty of Actuaries in 2013/2014, he was a member of the so-called Independent Project Board that oversaw the Association of British Insurer’s audit of the legacy pension schemes identified by the Office of Fair Trading as being at risk of being poor value for money.
Aberdeen Asset Management
Aberdeen Asset Management has named Steen Foldberg as head of Luxembourg and managing director of Aberdeen Global Services, the Group’s principal cross-border management company.
Foldberg joins Aberdeen from Julius Baer, where he was a managing director. He will report to Gary Marshall, head of product at Aberdeen.
Aberdeen has had an office in Luxembourg since 2006 and manages more than 90 funds, with assets under management of around €57bn.
Gary Marshall, group head of product at Aberdeen Asset Management, said: “Luxembourg is a key location for Aberdeen given the number of cross-border funds we have domiciled or managed from there, which clients from around the world invest in. It will be a crucial office – at the heart of Europe – within the combined Aberdeen and Standard Life business.”
Canaccord Genuity, the Vancouver, Canada-based international financial services company, has named Tristan Gervais to head up its family office coverage and ultra-high-net-worth client operations, a new role at the company.
Gervais comes to Canaccord Genuity from UBS’s Global Family Office Group, where he had been an executive director, looking after its family office clients with respect to corporate finance and securities operations. Prior to this he held corporate finance roles at Deutsche Bank and JP Morgan, Canaccord Genuity said.
At Canaccord Genuity, he reports to Simon Bridges, head of investment banking in the UK and Europe.
The Canaccord Genuity Group, which is listed on the Toronto and London stock exchanges, announced earlier this month that it had acquired Hargreave Hale, the UK wealth manager. In March it was reported that its UK and Europe Wealth Management operation had acquired more than 100 client portfolios from Duncan Lawrie Private Banking’s Isle of Man unit.
Premier Assurance Group
Lopez, pictured left, comes to the PA Group from UBS International, where, as compex operations manager, he oversaw trade desk sales for the bank’s international arm’s Miami and Uruguay branches, supervising more than 60 financial advisers. Previous roles included a stint as an operations specialist at Wells Fargo Advisors in Miami, where again he oversaw the company’s complex operations leadership board and audit preparations.
At the PA Group, Lopez will be responsible for providing sales support to independent financial advisers, agencies and other distribution channels throughout Latin America and the Caribbean, according to a statement announcing his appointment.